Variable Interest Entities (Tables)

3 Months Ended

Mar. 31, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Summary of LIHTC Investments and Commitments

The following table summarizes the Company’s LIHTC investments and related unfunded commitments:

(In thousands)	March 31, 2024		December 31, 2023
Gross investment in LIHTC investments	$	1,293,847	$	1,135,192
Accumulated amortization	(161,612)		(141,199)
Net investment in LIHTC investments	$	1,132,235	$	993,993
Unfunded commitments for LIHTC investments	$	683,133	$	549,258

Schedule of Components of Income Tax Expense (Benefit)

The following table summarizes the amount of income tax credits and other income tax benefits, and investment amortization generated from the Company’s LIHTC investments, which are recognized as a component of income tax expense (benefit):

	Three months ended March 31,
(In thousands)	2024		2023
Income tax credits and other income tax benefits from LIHTC investments	$	(28,024)	$	(21,898)
Investment amortization from LIHTC investments	20,413		21,478